Mild weather takes toll on Natural Gas
05/02/2015 09:26
Natural Gas futures plunged in the domestic and overseas market on Wednesday as investors and speculators exited positions in the energy commodity as milder than normal weather curbed the demand for the heating fuel.
The Commodity Group Weather LLC predicted mostly average temperatures in the central and eastern US through February 18, 2015.
At the MCX, Natural Gas futures for February 2015 contract closed at Rs 165.4 per 1 kg, down by 3.61 per cent after opening at Rs 172, against the previous closing price of Rs 171.6. It touched the intra-day low of Rs 165 till the closing.
05/02/2015 09:26
Natural Gas futures plunged in the domestic and overseas market on Wednesday as investors and speculators exited positions in the energy commodity as milder than normal weather curbed the demand for the heating fuel.
The Commodity Group Weather LLC predicted mostly average temperatures in the central and eastern US through February 18, 2015.
At the MCX, Natural Gas futures for February 2015 contract closed at Rs 165.4 per 1 kg, down by 3.61 per cent after opening at Rs 172, against the previous closing price of Rs 171.6. It touched the intra-day low of Rs 165 till the closing.
